Hello Everyone!
Here is April’s real estate market summary for Tooele and Salt Lake counties. I was looking at this week’s weather forecast and had to smile as it looks wonderful as our market is beginning to look as well! It is still a great time to buy properties! If you would like to compare month to month, all of the market summary reports I have created can be found at http://inside-real-estate.com/andreacahoon/.
Tooele County
April 1-30, 2012
Number of Homes Sold: 51
Average Sales Price: $182,930.10
Average Price Per Square Foot: $70.51
Average Days on Market: 142
Tooele County
April 1-30, 2011
Number of Homes Sold: 64
Average Sales Price: $141,521.45
Average Price Per Square Foot: $65.34
Average Days on Market: 131
The Tooele County Absorption Rate report shows we have approximately 4.5 months of inventory when you include sold and under contract listings together in the equation. If the under contract listings are included with the active listings, the absorption rate increases to about 11 months of inventory.
Salt Lake County
April 1- 30, 2012
Number of Homes Sold: 1,067
Average Sales Price: $223,136.34
Average Price Per Square Foot: $94.89
Average Days on Market: 111
Salt Lake County
April 1- 30, 2011
Number of Homes Sold: 942
Average Sales Price: $220,286.38
Average Price Per Square Foot: $90.54
Average Days on Market: 132
The absorption rate for Salt Lake County is approximately approximately 3 months of inventory when you include sold and under contract listings together in the equation. If the under contract listings are included with the active listings, the absorption rate increases to about 6.5 months of inventory.
For any of you who have High School Students preparing to take the ACT Exam, there will be an “Ace the ACT” ACT prep course taught by Ann Meeks in June here in Tooele. Space is limited so if you are interested, please contact me for more information.
If you or any one you know is looking to buy or sell real estate, have them give me a call! Also, as a Certified Distressed Property Expert (CDPE) I have specific training to help homeowners in distress work out solutions that will work for them. Please pass my name along if someone you know is having a hard time keeping up on their mortgage payments. If you do not wish to receive these e-mails, please send an opt-out message to andreacahoon@remax.net.
Have a wonderful week!
Andrea Cahoon, CDPE, CRS, TCRES, CNHS
RE/MAX Platinum
435-850-8167
P.S. Mortgage rates are still incredibly low and housing prices are lower than they have been in years. If you have ever thought about purchasing a home for your family or for an investment, NOW is the time!
Avg. Sales Price: 379,000
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